• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

MassMutual's Center for Behavioral Research(Sm) Releases White Paper on 'Why Data Matters: Generating Value From Retirement Plan Data'

Posted on: Thursday, 19 June 2008, 18:00 CDT

SPRINGFIELD, Mass., June 19 /PRNewswire/ -- MassMutual's Center for Behavioral Research has released a new white paper to help plan sponsors and retirement plan advisors gain the most value from recordkeeping data collected for retirement plans. Titled "Why Data Matters: Generating Value from Retirement Plan Data," the white paper outlines the process through which retirement plan data can be used to enhance plan value, performance and participant engagement; streamline or reduce administration; and help plan fiduciaries meet their obligations.

"When it is summarized and analyzed, raw data becomes actionable information that provides a window into participant behaviors and plan trends," explains Ian Sheridan, corporate vice president and chief marketing officer for MassMutual's Retirement Services Division. "This data can be used to shape services provided to plan participants and drive decisions that can positively impact the health of the overall plan."

"Having actionable information enables a more proactive approach to plan trends and makes it possible to mitigate potential issues," adds Alison Salka, director of MassMutual's Center for Behavioral Research. "Ready access to timely, summarized plan information can allow administrators to proactively address situations before they turn into problems, and can provide validation of fiduciary decisions," she adds.

The white paper poses some questions to consider in leveraging the data available from your recordkeeper:

"Is there any information we currently don't track that would help me make decisions?"

"Are there any opportunities to automate manual processes?"

"How can we use our plan data to communicate more effectively with our participants?"

"Why Data Matters: Generating Value from Retirement Plan Data," is available on MassMutual's Center for Behavioral Research Web site at http://www.massmutual.com/behavior along with other white papers that address topics important to the effective creation and management of a retirement savings plan.

"We are committed to helping advisors, plan sponsors and participants achieve their retirement plan goals," says Elaine Sarsynski, executive vice president of MassMutual's Retirement Services Division and chairman, president and CEO of MassMutual International LLC. "We firmly believe in the power of education in this process, and will continue to invest in opportunities that provide this valuable education. These white papers, and our sponsorship of the PBS documentary, Retirement Revolution(R), are some of the ways MassMutual is using education for the benefit of plan sponsors, participants and the advisors who serve them," she adds.

To view the complete white paper, please visit http://www.massmutual.com/behavior. For more information about MassMutual Retirement Services, please contact your retirement plan advisor or call MassMutual at 1-866-444-2601.

Contact: Lisa Reilly 413-744-0589 lreilly@massmutual.com

MassMutual Retirement Services

CONTACT: Lisa Reilly of MassMutual Retirement Services, +1-413-744-0589,lreilly@massmutual.com

Web site: http://www.massmutual.com/behavior

Source: PRNewswire

More News in this Category